PwC accomplice Ed Stacey reckons it’s getting tougher to justify regional pay variations
If everybody in a agency is usually lawyering from their lounge, what’s the purpose of paying folks large salaries to reside in London?
That’s the query being requested by Ed Stacey, head of authorized at PwC.
In an interview with Legal Week (£), Stacey says that it’s “fairly troublesome” to justify big wage variations for solicitors at totally different branches of the identical agency if everyone seems to be working from dwelling anyway.
Stacey, a accomplice on the authorized arm of the accounting and consultancy juggernaut, reckons that solicitors working exterior of the Metropolis of London may begin to query their usually a lot lighter pay packets.
Legislation agency salaries can be found on Authorized Cheek’s Firms Most List — however the headline rating is by London wages. Click on by to a given agency’s profile, and also you’ll usually see a decrease regional charge within the advantageous print.
Stacey informed the web site: “Among the London salaries have gotten fairly wealthy in comparison with a few of the regional salaries, and I feel when folks realise that the job will be as successfully carried out from dwelling, it’s fairly troublesome to start to justify that massive hole in salaries.”
He added that wage variations between London and different large cities like Manchester would are available for explicit scrutiny if legal professionals in and across the capital aren’t having to pay for his or her commute.
Many Metropolis corporations have already moved to trim London salaries for their newly qualified lawyers, though others have bucked the pattern. Earlier this week, US big White & Case gave NQs a £25,000 pay rise, taking them to £130,000.
Home costs in London are twice the UK common and normal shopper costs are 7% increased within the capital, in keeping with the Workplace for Nationwide Statistics.